The new $30 million West Australian Venture Capital (WAVC) initiative will support locally-based start-ups to scale up and create local jobs and accelerate the venture capital industry in WA.
The initiative looks to attract venture capital firms to fund early-stage startup and scaleups in industry and technology development sector and the health and medical life sciences sector.
For every $1 of this WA Government venture capital investment, $1.25 will go directly to support start-ups and scale-ups in the state which align to the 8 Diversify WA sectors.
“High-growth start-ups are proven job creators, capable of adding thousands of new jobs to our economy at a faster rate than other sectors.” says Premier Roger Cook.
The WAVC follows the successful WA Venture Support (WAVES) which secured 3 venture capital firms to establish in WA.
Applications must be submitted online and close at 12.30pm WAEST Friday 27 September 2024.
